Apr. 12, 2018
Sumitomo Corporation invests in Dutch thermoplastic composite pipe manufacturer
Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and Chief Executive Officer: Masayuki Hyodo) has acquired a stake in Airborne Oil & Gas (Head Office: North Holland Province, The Netherlands; hereinafter, “AOG”), a Dutch manufacturer of thermoplastic composite pipes.
AOG manufactures Thermoplastic Composite Pipes (hereinafter, “TCP”) using glass fiber, carbon fiber and resin, and sells these primarily to Exploration & Production companies in oil and gas industry.
By introducing innovative technologies and new materials into its own value chain of sales, processing, and logistics functions for tubular products, Sumitomo Corporation will be able to enhance the value it provides by reducing costs for Exploration & Production companies and improving the convenience offered to them. Adding TCP to its lineup through investment in AOG should also help Sumitomo Corporation expand its customer base and further boost sales in its existing tubular products business.
|Company name||:||Airborne Oil & Gas|
|Head office location||:||IJmuiden, North Holland Province, The Netherlands|
|Sales locations||:||Netherlands, US, Malaysia|
|Shareholders||:||HPE Growth Capital, Saudi Aramco Energy Ventures LLC,
Shell Technology Ventures, Chevron Technology Ventures,
Subsea 7, Evonik Industries, etc.
|Description of business||:||Manufacture/sale of composite pipes|
■Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This Project especially contributes to “the Development of Local Communities and Industries”.